Sunk cost fallacy
Recently at home, I have seen every film that was long due., while shuffling for more binge-watching I happen to see a trailer of a web series that intrigues me, and was worth the watch. I watched the episode without disturbance. Not only did I skip ads, also my meal too to enjoy the episode until I got the payment prompts to subscribe the channel to continue viewing other episodes
Since the episode was intriguing, I searched whether the same series is available elsewhere on any of the subscribed channels or not? And this only increased the craving to watch it completely and I ended up paying for a months’ subscription for a few more episodes.
Didn't you pay a subscription charge for a channel to view only one movie or web series?
Sunk cost fallacy occurs when you make decisions that are based on the emotional investments that you have already made. (in this case, I have already watched an episode) The more time or money you invest in something, the harder it is to let it go.
Research suggests that rats, mice, and humans are all sensitive to sunk costs after they have made the decision to pursue a reward.
Reference
https://science.sciencemag.org/content/361/6398/178.abstract
https://www.developgoodhabits.com/sunk-cost-fallacy/
https://www.behavioraleconomics.com/resources/mini-encyclopedia-of-be/sunk-cost-fallacy/
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